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Sep 17, 2012
09/12
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we look at dodd-frank, we look at the regulatory framework in the united states. we look at the fed. one of the greatest threats to the u.s. and the capitalism really is academics and bureaucrats that really run our entire regulatory framework in the u.s. and they run the federal reserve. we need risk it takers. people that have actually taken risk to be in the regulatory framework. if you look at the crash of 2008, who is making all the decisions? it was hank paulson, someone from wall street. and we have a situation all these years later where if you look at the fdic, the futures trading commission, the regulatory infrastructure doesn't have approach risk takers. and that's a big threat. >> it sounds like you think the fed are taking risks. >> i've been behind the scenes taking to hedge fund managers. these are complete experimental drugs, they don't have an exit strategy. they want to make us feel good with academic contrived jargon, but this is a massive experiment. and what i'm worried about, think about in the united states we have a trillion dollars in pens
we look at dodd-frank, we look at the regulatory framework in the united states. we look at the fed. one of the greatest threats to the u.s. and the capitalism really is academics and bureaucrats that really run our entire regulatory framework in the u.s. and they run the federal reserve. we need risk it takers. people that have actually taken risk to be in the regulatory framework. if you look at the crash of 2008, who is making all the decisions? it was hank paulson, someone from wall street....
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Sep 18, 2012
09/12
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let's remind you what's on the agenda in the united states. second quarter current account figures are out at 8:30 eastern. followed by the national association of home builders monthly survey at 10:00. a trio of fed officials speaking about the economy today. charles evans and bill dudley and jeff lacker p. richard fisher will be on "squawk box" at 7:00 eastern. it does start earlier than that, though, it starts at 6:00. >> and no reason to stop watching after we go off the air basically. still with us is david kelly from the u.s. about. which of those events will be most important for positioning in your view or is apple's iphone going to come to our rescue here? >> i think people are assuming that the iphone will be a big success. i'm not an expert in apple, but it's kind of baked in that they will do very well. the interest being one to me is the national association of home builders index. s housing is recovering in the united states. home prices are beginning to move up. that's helping with wealth and confidence and generate more home bu
let's remind you what's on the agenda in the united states. second quarter current account figures are out at 8:30 eastern. followed by the national association of home builders monthly survey at 10:00. a trio of fed officials speaking about the economy today. charles evans and bill dudley and jeff lacker p. richard fisher will be on "squawk box" at 7:00 eastern. it does start earlier than that, though, it starts at 6:00. >> and no reason to stop watching after we go off the air...
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Sep 11, 2012
09/12
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concerns about a wlum bettering united states economy and who know what is will happen in europe and you can understand why there's several hot spots of concern. one of the leading industrials was the head of nissan worried about china and to a certain extent, but not so much for economic reasons, but because of sovereignty claims between japan and the prc. >> it's a worrying situation. anything which is taking place between two countries which have everything to complement each other and to work together, everything that could become a threat into distorting the relationship is worrying obviously for a major economy. i still think that hopefully wisdom will try to resolve the issues, but you never know. >> and setting asided china, what about the u.s. economy. people there tonight have enough household savings. how could they possibly support a company like nissan. surprisingly, he says america not a problem. it's the other side of the atlantic. >> our worry is not the u.s. market. u.s. market is going fine. today our worry of most companies in europe, this is where most trouble are
concerns about a wlum bettering united states economy and who know what is will happen in europe and you can understand why there's several hot spots of concern. one of the leading industrials was the head of nissan worried about china and to a certain extent, but not so much for economic reasons, but because of sovereignty claims between japan and the prc. >> it's a worrying situation. anything which is taking place between two countries which have everything to complement each other and...
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Sep 14, 2012
09/12
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in the united states it has a dual mandate. price stability and full employment. and it's done neither. and so i'm glad they're finally tying those actions together. >> marc, fair point. what would you do as a policy maker? >> well, first of all, if i were mr. bernanke, for sure i would resign after having messed up the u.s. as badly as mr. greenspan and mr. bernanke have done over the last 15 years. and mr. bernanke before he was fed chairman, he was one of the principal architects of ultra expansionary monetary policies, never paying any attention to credit growths that led to the housing bubble. and if i had messed up this badly, i would for sure resign. but secondly, if you you really want to have an expansionary mop taker po monetary policy that helps the man on the street, should you do what sheila bair proposed, namely send each household a check for $5 million interest rate free. i would go as far as to say send them each $10 million free as a gift and put it on the balance sheet of the treasury and the fed and that would boost consumption temporary. don't
in the united states it has a dual mandate. price stability and full employment. and it's done neither. and so i'm glad they're finally tying those actions together. >> marc, fair point. what would you do as a policy maker? >> well, first of all, if i were mr. bernanke, for sure i would resign after having messed up the u.s. as badly as mr. greenspan and mr. bernanke have done over the last 15 years. and mr. bernanke before he was fed chairman, he was one of the principal architects...
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Sep 21, 2012
09/12
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those viewers in the united states waking up, why are the apple workers in paris upset? >> for the last week, they've been extremely it is grunt he willed. all over the french media, they've been meeting with different management, complaining, in pact one of them was quoted as saying working at apple is like working in a coal mine. they've been complaining that they have to work longer hours than what they're paid for, that they don't get any commissions uneven though they're under constant pressure to sell. they're monitored by cameras in the stores and looking for things like a 13th month of pay as a bonus, higher pay and water fountains in the store. some of these things are standards for french workers, but they're complaining that apple has been extremely resistant to provide them these things. in fact they say they've been fighting for three years for the 13th month of pay. so at the end of yesterday, there was a sort of last resort meeting at which it was decided that these issues would be revisited before the end of the year, that the company would consider them
those viewers in the united states waking up, why are the apple workers in paris upset? >> for the last week, they've been extremely it is grunt he willed. all over the french media, they've been meeting with different management, complaining, in pact one of them was quoted as saying working at apple is like working in a coal mine. they've been complaining that they have to work longer hours than what they're paid for, that they don't get any commissions uneven though they're under...
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Sep 28, 2012
09/12
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states and young people turned out. this time not so much. i've seen a number of polls on university campuses that they're pretty apathetic about the whole thing this time. so it will come down to turnout. and low turnout on the democrat side of course helps republicans because republicans vote no matter what. >> no matter what. >> no matter what. i'm voting on the 27th of october. >> no matter what. >> who are you voting for, do we know? >> i couldn't possibly say. >> mary jo will stick away. she did work for ronald reagan and george h.w. bush, as well. in other news, israeli prime minister benjamin netanyahu has issued a warning that the nuclear program must be stopped and limitses need to be drawn up to allow time for facilities to be dismantled. >> a red line should be drawn right here. before, before iran completes the second stage of nuke checle enrichment necessary to make a bomb. before iran gets to the point where it's a few months away or a few weeks away from amassing enough to make a nuclear weapon. >> you k
states and young people turned out. this time not so much. i've seen a number of polls on university campuses that they're pretty apathetic about the whole thing this time. so it will come down to turnout. and low turnout on the democrat side of course helps republicans because republicans vote no matter what. >> no matter what. >> no matter what. i'm voting on the 27th of october. >> no matter what. >> who are you voting for, do we know? >> i couldn't possibly...
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Sep 26, 2012
09/12
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the united states is not going to just stand by. they have to overcome the pretty much resistance from other countries like russia and china in the united nations security council. but when it comes to iran, united states making it clear that they will do what they must, is what obama said, to stop iran from obtaining nuclear weapons. the iranians are saying well, we're not really striving to get nuclear weapons. so there's really not much to do on that front. but again, what are we expecting from president mahmood ahmadinejad? we got a bit of a preview yesterday in some comments that were really provocative when it comes to israel, and we expect perhaps some of that to continue in his speech later today. but again, watch very carefully for that speech. might get further clues about where iran stands at the moment. also, of course, it will be worth watching and tuning in to the israeli leader's speech. we'll have to see where this goesmz it's been a lot of rhetoric that's going on. the oil markets we'll be watching very closely. >>
the united states is not going to just stand by. they have to overcome the pretty much resistance from other countries like russia and china in the united nations security council. but when it comes to iran, united states making it clear that they will do what they must, is what obama said, to stop iran from obtaining nuclear weapons. the iranians are saying well, we're not really striving to get nuclear weapons. so there's really not much to do on that front. but again, what are we expecting...
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Sep 25, 2012
09/12
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also on the agenda today in the united states, two key data points .at s. housing recovery. expected to be up 1% for july. and we'll also have the latest consumer confidence report, this is the richmond fed manufacturing survey due out at 1:00 eastern. also an auction of two year treasury notes. >> speaking of economic indicator, here's one for you. southern europeans are cutting back on their coffee due to the economic downturn. consumption is down in italy and sman to levels not seen for the last five or six years. and perhaps in a silver lining for the rest of us, that's driving the price of coffee down. what do you cut back on in tough economic time times some do you still need the daily caffeine boost? two pounds a day really does add up. i know i'm equity of that myself. e-mail us or tweet us to respond to that or anything else you've heard on the program this morning. and speaking of twitter, on wednesday on cnbc, we'll have an exclusive interview with the twitter ceo. tweet your questions today using the #ask twitter. >> and angela merkel, we'll hear from an author w
also on the agenda today in the united states, two key data points .at s. housing recovery. expected to be up 1% for july. and we'll also have the latest consumer confidence report, this is the richmond fed manufacturing survey due out at 1:00 eastern. also an auction of two year treasury notes. >> speaking of economic indicator, here's one for you. southern europeans are cutting back on their coffee due to the economic downturn. consumption is down in italy and sman to levels not seen...
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Sep 5, 2012
09/12
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as far as what's on the agenda in the united states, second quarter productivity out at 8:30 eastern. forecasts calling for 1.9% growth. unit labor costs have seen rising by 1.4%. corporate side, discount retailer dollar general reports figures before the open. after the close we'll hear from the likes of h&r block, harry winston and menswear house. that's the agenda for you today. >>> meanwhile, a leaked report from troika suggests imposing a six-day work week on greece as a condition of bail outs. we want to know, is that fair or is the troika going too far? jeff tweets in to say, no, six-day work week is not fair. don't punish workers for government's mismanagement and stupid. join the conversation here on "worldwide exchange." get in touch by e-mail or tweet us @cnbcwex or individually. ross? >> do that and still to come, david cameron is under spotlight as he faces questions in parliament following yesterday's cabinet reshuffle. > >>> welcome back to the program. these are your headlines. fedex cutting forecasts. >>> u.s. services pmi shows a slump on the eve of a key ecb meeting
as far as what's on the agenda in the united states, second quarter productivity out at 8:30 eastern. forecasts calling for 1.9% growth. unit labor costs have seen rising by 1.4%. corporate side, discount retailer dollar general reports figures before the open. after the close we'll hear from the likes of h&r block, harry winston and menswear house. that's the agenda for you today. >>> meanwhile, a leaked report from troika suggests imposing a six-day work week on greece as a...
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Sep 12, 2012
09/12
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i mean, the math is done a little bit differently in the united states, you having done a ph.d. at harvard. they are taking care of the problem, aren't they? they are in the process? >> well, they are talking about it. i don't think they are doing any meaningful things, because in the u.s. political system, you really have to have the president, the white house, and the congress working together. and currently, the two parties are not even talking the same language oftentimes. so i do hope whatever the outcome of the presidential election in the u.s., the two parties, the administration and the parliament, the congress should work together. >> yeah, their philosophies are farther apart than ever. it's two different americas. what are you saying then? you're saying with the prospect of still a possible qe3, that a serious debasement of the dollar devaluation -- almost like a deliberate devaluation of the dollar is going to enter the conversation here? is that what you're alluding to? >> no. what i'm saying is the u.s. financial crisis is a monumental, historical event. the conseq
i mean, the math is done a little bit differently in the united states, you having done a ph.d. at harvard. they are taking care of the problem, aren't they? they are in the process? >> well, they are talking about it. i don't think they are doing any meaningful things, because in the u.s. political system, you really have to have the president, the white house, and the congress working together. and currently, the two parties are not even talking the same language oftentimes. so i do...